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Japan shuts down world’s largest nuclear plant hours after restart
TEPCO, as the utility is known, said it was forced to stop the...
Soft Market: Munich Re plans relocation of jobs to India Poland
In early January, it became known that the world's second-largest...
M&A activities: Private Equity dry powder set to stimulate deals in 2024
Asia, the Middle East, and India were the most stable markets. Asia saw an influx of new insurers and exhibited a broader risk appetite, and while the Middle East and India saw a decrease in the overall number of deals, an increase in $1bn+ enterprise value deals saw...
Tokio Marine Kiln appoints Jonathan Grossman in Asia Pacific Property division
Tokio Marine Kiln (TMK) today announces the appointment of Jonathan Grossman to its property division in Singapore as underwriter, effective immediately. He will focus on writing business across the Asia Pacific region, as well as Australia and New Zealand, given his...
Sanctions are finally starting to bite Moscow’s oil supply chain
Indian oil refiners — Moscow’s second-biggest customers after China since the 2022 invasion — will no longer accept tankers owned by state-run Sovcomflot PJSC because of the risk posed by sanctions. The Russian oil-export machine funding the Kremlin’s war in Ukraine...
After pricing, IRDAI now allows general insurers freedom of wordings in corporate policies from Apr 1
Now, the insurers can change terms, conditions, clauses, warranties, policy and endorsement wordings applicable to certain classes of business such as Fire, Engineering, Motor, Workmen’s Compensation and other classes of insurances which were not allowed earlier....
Consumer panel directs bank, insurer to pay Rs 30 lakh claim to Mumbai cop injured in accident
The complainant is justified to claim of Rs 30 lakh with an interest rate of 6 per cent from the date of repudiation (June 5, 2019) till its actual realisation, the commission said. It directed the bank and the insurance firm to issue the claim jointly and...
Higher burden of breast cancer in Tamil Nadu, Telangana, Karnataka, Delhi: ICMR study
According to the projections, the burden of female breast cancer in India in 2025 is expected to be 5.6 million DALYs. Premature deaths due to breast cancer (YLLs) would contribute 5.3 million DALYs to the total burden, with the remaining due to disability (YLDs). New...
Karnataka moves SC seeking direction to Centre to release funds for drought management
"Cumulatively for Kharif 2023 season, the agriculture and horticulture crop loss have been reported in more than 48 lakh hectares with the estimated loss (cost of cultivation) of Rs 35,162 crore," the plea, filed through advocate D L Chidananda, said New Delhi: The...
UP plans law for insurance of passengers in vertical transport
“One good thing that we have also provided in the draft is compulsory third-party insurance of passengers who will be entitled to monetary compensation in the event of any harm they suffer on account of a lift accident. Insurance coverage will be provided by the owner...
Regulatory Revamp: IRDAI approves Bima Sugam, unveils 8 new principle-based consolidated regulations
Debasish Panda, chairman, IRDAI These new regulations encompass pivotal domains such as safeguarding of policyholders' interests, rural and social sector responsibilities, electronic insurance marketplace(Bima Sugam), insurance products and operation of foreign...
V Jagannathan’s new health insurance venture `Galaxy Health’ receives IRDAI nod
V. Jagannathan Galaxy Health and Allied Insurance Company is a joint venture between V Jagannathan's family, who had earlier the founded Star Health Company and TVS group. Former Star Health CEO Dr S Prakash has also joined the new venture as a CEO. Hyderabad: Galaxy...